经济思想、政策与经验的互动——1991-2001年加拿大通货膨胀目标制的建立

IF 0.7 Q3 ECONOMICS Review of Economic Analysis Pub Date : 2019-11-16 DOI:10.15353/rea.v12i2.1693
D. Laidler
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引用次数: 2

摘要

在加拿大,以通货膨胀率为目标是作为向物价水平稳定过渡期间的一项临时措施,但它本身已成为一项完善的货币政策制度。本文分析了经济思想与将其应用于政策所产生的经验的相互作用在产生这一结果中的作用。在下面的叙述中,人们对持续通货膨胀的稳定性或其他方面的看法不断变化,强调了灵活汇率造成贬值和国内价格上涨的恶性循环的能力,同时也讨论了影响经济结果的自然失业率和货币增长的想法。如今,标准的通胀目标制建模理论方法是在加拿大货币政策逐渐成熟的时候才出现的。
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Interactions among Economic Ideas, Policies and Experience - The Establishment of Inflation Targeting in Canada, 1991-2001
In Canada, targeting the inflation rate was intended as a temporary measure during a transition to price-level stability, but became a well-established monetary policy regime in its own right. This paper analyses the role of the interaction of economic ideas with the experience generated by their application to policy in bringing about this outcome. In the following account, changing beliefs about the stability or otherwise of ongoing inflation, the capacity of a flexible exchange rate to create a vicious circle of depreciation and rising domestic prices, are emphasised, while ideas about the natural unemployment rate and money growth in influencing economic outcomes are also discussed. Today’s standard theoretical approach to modelling inflation targeting arrived on the scene only as the Canadian regime was becoming well established.
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来源期刊
CiteScore
1.10
自引率
0.00%
发文量
10
审稿时长
26 weeks
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